Investment activity in qualified opportunity zones has rebounded as states across the nation relax social distancing and shelter-in-place restrictions put in place to combat the coronavirus pandemic, according to a leading due diligence commercial real estate firm.
Not surprisingly, investments and ongoing projects in qualified opportunity zones — economically distressed communities where new investments are eligible for tax abatements or capital gains deferrals — declined in March as the stock market plummeted.
But this spring, the qualified opportunity zone program became the most active in the commercial real estate market as investors took capital gains from money pulled out of the stock market and funneled it into qualified opportunity zones or qualified opportunity zone funds, according to Dallas-based BBG.
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R. Robin McDonald
Daily Report reporter R. Robin McDonald's journalism career includes stints as a staff writer at The Atlanta Journal-Constitution, The Fort Worth Star-Telegram, The Wichita Eagle, and The Anniston Star and as a trial tracker at CourtTV and CNN. She is the author of two true crime books -- Black Widow: The True Story of the Hilley Poisonings and Secrets Never Lie: The Death of Sara Tokars.
